Moody's lowers Lippo Karawaci view to negative

Moody's Investors Service said it changed the outlook on Lippo Karawaci Tbk.'s ratings to negative from stable.

Moody's also said it affirmed the B1 corporate family rating of Lippo Karawaci and affirmed the B1 senior unsecured rating of the bonds issued by Theta Capital Pte. Ltd.

The bonds are guaranteed by Lippo Karawaci and some of its subsidiaries. Theta Capital is a wholly-owned subsidiary of Lippo Karawaci, the agency noted.

Moody's said it changed the outlook on the ratings to negative from stable.

The negative outlook reflects an increase in its execution and financing risk, which will likely weaken its debt leverage and interest coverage ratios, the agency said.

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